HomeBusiness ReportApple to unveil new video service

Apple to unveil new video service

Apple is expected to announce Monday that it is launching a video service that could compete with Netflix, Amazon and cable TV itself.

It’s a long-awaited attempt from the iPhone maker, several years after Netflix turned “binge watching” into a worldwide phenomenon.

The new video service is expected to have original TV shows and movies that reportedly cost Apple more than $1 billion U.S., far less than Netflix and HBO spend every year.

Also expected is a subscription service consisting of news, entertainment and sports bundled from newspapers and magazines.

On the markets, the TSX tumbled 155 points to close last week.

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Oil is starting the week at $58.96.
Gold is up $4.60 at 1,316.90.
The Canadian dollar is at 0.74569.
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